Friday, August 15, 2014
Sony Sells M3 Shares, Gains $1.23

Sony Sells M3 Shares, Gains $1.23

Posted by: Ernice Gilbert February 20, 2013 in News, Sony 5 Comments

Sony has sold some 95,000 shares from its medical services subsidiary M3, a move that’s expected to boost the firm’s Q4 profits by $1.23 billion.

According to the UK’s GI.biz, the sale is expected to net the Sony Corporation ¥115 billion ($1.23 bn / £798m) after selling 6% of M3, accounting for 95,000 shares. However, Sony will remain the majority shareholder in the business.

It’s part of Sony’s restructuring effort, with a similar move happening one month ago, when the firm sold its New York headquarters to investors led by the Chetrit Group for $1.1 billion.

A big part of today’s PlayStation 4 announcement, it seems, will be Gaikai’s integration into the company’s cloud offering moving forward.

Watch the event live on Games Thirst today.

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About Ernice Gilbert

Ernice Gilbert here. Founder and Editor-In-Chief of Gamesthirst. Thanks for stopping by, make yourself at home!
  • Alex Mason

    Could someone tell me what are M3 shares? Month 3?

  • http://www.gamesthirst.com Ernice Gilbert

    @Alex:

    M3 Inc. was established in September 2000 under the service name of So-net, with Sony Communications Network Corporation, a supplier of network-related services, as the largest stockholder.

    Our company name M3 represents the three Ms of Medicine, Media, and Metamorphosis. Our company was founded with the goal of changing the world of medicine through making full use of the power of the Internet.

  • Alex Mason

    @Ernice: Thanks for the info! :D I learned something new!

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